Private equity investors have their sights set squarely on big names in managed services software. In the last 15 months alone, Thoma Bravo has purchased Continuum and security/backup vendor Barracuda Networks Inc., among others, while Vista Equity Partners has snapped up Datto. So perhaps it comes as no surprise, that private equity firms are courting IT Glue in big numbers right now as well.
“If I had to put a number on it, maybe like three to five private equity slash venture capital firms per day reach out to me at this point,” he says. Day responds to all those queries with a polite but firm “no thank you,” and plans to continue doing so for at least a little while longer.
“I don’t believe that today is the right time to do that,” he says of accepting private equity money. “To the extent that I can keep doing this and I’m happy and excited and motivated, which I am, then I’ll keep doing that.”
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